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PBS
Jun 20, 2014 7:00pm EDT
his company. michael, janet yellen this week took an unusual step by saying she doesn't think stocks are over valued but valued for the economy right now. i take it you agree. >> i do, bill. we've been in a bull market since the bottom five years ago. the federal reserve said they wanted to lift stocks and bond prices. they have done it. she said it again this week that this is the main portion of why i remain unconvinced the word due for a bare market, she said this week with the rest of the fed they will continue to support this market. i don't need to know a whole lot more than that. there are two other factors among the three that cause me to be this way. the second one is the negative psychology that began long before five years ago at the market bottom. people still don't like stocks, overall. there is sentiment surveys that are toppy right now but overall, people are still skeptical and scenical about stocks and then the last thing itself is the fed. if the fed stays where it is and we continue to have the evaluations where they are as janet yellen said, it i can weqe market i
FOX Business
Jun 20, 2014 7:00pm EDT
: janet yellen suggesting that we could see this low level for a long time to come and well into certainly next year. perhaps even longer. so food costs, jumping significantly. i mean, we looked at the largest increase since 2011, meet, poultry, fish, eggs, all of it up about 1.5%. it's an interesting prospect only see prices rising like this. >> even washington notices when starbucks starts to charge a little bit more. sometimes it can spiral out of control. and they should be able t they o navigate this, but they could easily capsized the ship. >> i think it will do better as the year goes along and we will get the average to 250. lou: a quick political question. these scandals now are consuming the white house. what is your reaction? >> it's an outrage. you put them together. there's nothing like it in american history. the irs scandal long as the worst in american history. worse than watergate, worse than scandals of the early 20s. the fact that there's been no outrage in the part of the media and congress, it is just, it is astonishing. people are looking back and saying whe
FOX Business
Jun 20, 2014 6:00pm EDT
first real, real deal. the dow and s&p closed at all-time highs. there were issues, the janet yellen fed thing, she's losing credibility and the earnings warning from owens corning, could the balloon be coming off the roads for the market. it does for a lot of pressure and the economic data we're getting in the next couple of weeks, investors obviously are wildly enthusiastic. matt, you are bullish too, yesterday you wrote off gold, gold seems to have found buyers because people are thinking the fed is going to blow this and maybe the economy is on shaky ground right now? >> i think there's a lot of reasons. potential inflation and geopolitical issues around the world. it's a perfect storm for gold. and gold had one big day, you take that out. gold has been in a downtrend for several years. and you see the market closing at all-time high and at the end of the day. charles: is there a number on on gold. 1400? something like that, that you say yellow, red flag. >> if it gets high enough, if it breaks at 14, 1450. my target is 1100 on the downside for gold fall. charles: hitha, any reason t
FOX Business
Jun 20, 2014 4:00pm EDT
remember inflation, and there are certain signs, some dangerous signs that janet yellen didn't own up to that inflation is coming back. does that concern you? >> it doesn't concern me, we know we're going to have inflation eventually. you have to be prepared as always. one thing businesses are having a hard time doing, raising products and the services, it could help out a little bit, if we get runaway inflation, we're all in trouble. i don't see that at all. raise the price or widget, 4, 5, 8%, that will hold the investors bottom line. david: be careful, be careful, people have gone down in the environments before. you got to be wary of inflation, but again the market's doing great. that's a good thing. gentlemen, thank you very much. john buckingham, brent willsy, mark sebastien, you are wise beyond your years. liz: thank you all. david: the irs is answering charges it's covering up political targeting leading to the president's election. if what he's seen case mistakes or a purposeful cover-up. liz: the donald sterling scandal continues with allegations against his wife and the
CNBC
Jun 20, 2014 3:00pm EDT
? janet yellen said that's on her radar screen and it's a bit of a concern to her. is it to you? >> no. >> does anything concern you? don't look at the vix. i don't think that that's really a good indicator. >> with all duh respect to my great friend. >> it has not worked for the last few years and i think that's really the case. we have to go back and look at the history of the vix. understand where it came from. it doesn't fit right. >> it's broken. not a good indicator. and greg hit the nail on the head what he said about earnings. earnings are the life blood of the marketplace. as long as that takes place, i will be happy. you ask me what worries me? inflation. if we start to see the velocity of oil, you will see me get a little concerned on this. >> it's not just oil. i'm curious. >> sarah, it has got to go across the board. let's go through a real quick history lesson. nothing difference about the soy beeps but they went up very quickly. we have to be very aware of it. >> with that risk of inflation, do you have to adjust your portfolio? do you want to be in gold, for instance? >
FOX Business
Jun 20, 2014 3:00pm EDT
you've got guys like thomas pikety and janet yellen worried about income inequality, but we're talking about how we can beat and perpetuate -- liz: actually, and that is -- listen, i went to berkeley, i'm right alongside with you, but as a business network, we just want to give people a road map of how to deal with what may very well be developing for better or worse. >> absolutely. liz: so the investment play here. >> i'm all about beating inflation. hey, as long as they give me money to invest, i'm going to beat inflation, and it's unfortunate for most of the country, but i'll buy gold, i'll buy energy stocks, i'll buy anything. liz: gold isn't the only thing steve's buying. the last time you were here you were talking uranium, but why do you like it and how does an investor play uranium? >> i like it because the greatest concern in china is the air pollution that they're seeing. they already have, like, i think it's like 29 new reactors that they're in the process of building. one comes on this next year -- liz: to avoid all the pollution. >> yes, right. because if you look at china
Bloomberg
Jun 20, 2014 2:00pm EDT
and the dow. you have to go back to wednesday and the federal reserve. janet yellen might come clean this dropout of the market, she gave a pretty strong signal with where inflation was -- she was comfortable with where inflation was. one stock we are keeping an eye on is ge. an allianceering with the french government for alstom. ♪ >> welcome back to the second half-hour of bottom line on bloomberg television. i'm mark crumpton. do government handouts hurt or help workers? that is the question at the in north an experiment carolina. >> imagine you're unemployed and can't find a job, just like a lot of people during the great recession. unemployment benefits are pretty much all keeping you going. but what if you still can't find a job after a couple of years and you are still getting benefits? is it a real help to you or is you from getting any job you can? in july, north carolina slashed unemployment benefits by a third and cut the number of weeks people were eligible for benefits from 20--- 220 from 26. 0 from 26. the unemployment rate has fallen two percent and is just a tad hig
FOX Business
Jun 20, 2014 11:00am EDT
monetary accommodation the ecb did a week ago was the big impetus and with janet yellen saying what she just said, not really giving any of the market's recent to be worried, she is happy with the prices where they are, passed the baton as far as the combination those. stuart: got to bring it down to where it. you say the european central bank, they are printing money. that is it? >> yes. stuart: the mechanics of this, don't understand mechanics. they print money so what happens to the dollar? why does the dollar affects everything else? got to take it to me. >> they are going to be printing money which makes their currency cheaper abroad which would then actually strengthens the dollar and the dollar could be seen as something you may be wants to invest in because the dollar is strong. that may give a boost to the mark a little bit but our market is not going up fast. we have all time record highs and record low volumes, this is a balance sheet recovery, this is not a mainstream recovery. if everything was really that good you would see the ceos investing in their plants, buying an
CNBC
Jun 20, 2014 11:00am EDT
-- from my perspective, you know, valuations are not stretched. clearly janet yellen said, hey, the fed is not going do do anything with interest rates any time soon. earnings are moving ahead. everything is moving ahead at a modest pace. we have modest inflation. stocks like that environment. that's one reason why we've been going up and one reason why i think we're going to continue to go up through the balance of the year. hopefully we'll see some pullbacks to give us buying opportunities but in any case i think the market's definitely going to be higher by the end of this year. >> there have been some strategists who are willing to go out on a hlimb and say we co be it at 18,000. 20,000 by the end of the year because there is really no reason for a pullback until we get more definitive answers for the fed, until economic data starts to show some weakness or until earnings get decidedly poor and none of that really looks to happen. what are you looking for in the market to actually reverse this if and when it does finally happen? >> well, you know, right now you almost have to ha
CNBC
Jun 20, 2014 9:00am EDT
back to, okay, look, it could be, like janet yellen said, noisy. coffee came down 20%, but these guys are all being challenged to raise the price of the menu because of the costs. >> garden's food costs up 85 year over year. that gets your attention. >> right, and remember the guys from deadliest catch don't like garden because garden is tough with them for when they bring in their crabs, but the fact is it costs money to bring in fresh seafood, so these guys are squeezed, and you can't raise price, and that's, you know, they are also old. red lobster is old. i remember when they first created red lobster, like an affordable place for great seafood. now i just don't equate them with something where i'm going to have a healthy meal. >> at red lobster. >> yeah, at least fresh and ogranic if i go chipolte with the salad. the calories are bad. don't look at the calories. >>> oracle down 5% now. again, it's going to take you back to levels in early may. >> look, oracle is in the transition. there were execution issues. there was a charm offensive oracle that happened in the last two months
Bloomberg
Jun 20, 2014 8:00am EDT
winning streak. helped along by janet yellen's statement and press conference earlier this week that the economy is recovering. for rates will stay low some time. we are on the markets again in 30 minutes. the king of the economy, between april 2013 and april of this year, 22 thousand north carolina workers disappeared. what happened and what should be done is an economic mystery and the focus of a major political debate. mike mckee has the story. >> imagine you are unemployed. you cannot find a job like a lot of people working. the recession may be the only thing keeping you afloat. is it because you still cannot find a job or are you not looking hard enough? the state of north carolina decided to try to find out. unemployments last benefits by one third and cut the number of jobless eligible for aid from 20 -- to 20 from 2 6. that affected the extended benefits program. look what is happened to unemployment since then. it has fallen two percentage points and must than a year. it is now below the national average. north carolina is creating jobs. 75,000 of them in the last nine months.
MSNBC
Jun 20, 2014 3:00am PDT
street keeps setting new records every day. why? >> i don't even need 15 seconds. janet yellen, the federal reserve, indicated she's going to stay on easy street. zero interest rates and that just juices the stock market. it's been the story the last few years. she said this week nothing is going to change any time soon. >> free money. money for nothing. >> sara eisen, thank you so much. >> good to see you. >> have a good weekend. >>> it's being called detroit's grand bargain. have you heard about this? it's a $195 million bankruptcy settlement that would minimize pension cuts for retirees as well as state legal costs. michigan governor rick snyder is expected to sign it into law today. and he joins us now live from detroit. governor, good morning. welcome to the show. welcome back. >> good morning. it's great to be with you again, and i'm going to sign this legislation. it's exciting for detroit and for michigan. >> well, what does it do, governor? >> it's really part of a grand bargain where we have the foundation community, the detroit institute of arts, labor and the state comin
Al Jazeera America
Jun 20, 2014 5:00am EDT
janet yellen said the fed expects the economy to kee keep -- improving. it's a no secret that 20-somethings have been having a tough time during this recovery. last week the overall jobless rate was 6.3, but unemployment among 20 to 24 year elsed was 24%. remember that's all. not those that have a college education. that group finds themselves very well employed. the question is, is it a problem with the economy or the people applying for jobs. here is patricia sabga. >> i'm a melinal, and i'm sorry. >> and i'm sorry. >> we suck and we know it. >> reporter: as this video shows, millennials have a image problem. in a recent survey, 35% of business leaders gave recent college graduates a c or lower on job preparedness. and it's not just hard skills. 63% of business leaders gave recent college grads a c or lower on soft skills. >> there really is that mismatch between the opportunities that are out there, and the skills and abilities of students to be opportunities. >> reporter: it seems odd at a time when he gones of college graduates are out of work or underemployed that businesse
PBS
Jun 20, 2014 1:00am PDT
gas market. >> inflation nation, janet yellen called the latest data noisy but how concerned should consumers and investors be about rising prices? >> and big miss, oracles earnings and one take away investors need to watch. that and more for "nightly business report" for thursday, june 19th. >>> good evening, everyone. i'm susie gharib. >> i'm bill griffeth in for tyler mathisen. always glad to be here with you. >> same here. >> turmoil in iraq created problems in the gas market. the united states will increase support for iraqi security forces but reiterated american forces will not be returning to combat. the president's comments came as the iraqi government tried to prevent an advance into baghdad by sunni militants and while the president spoke, oil prices continued to rise. $115 a barrel for the first time this year while west texas intermediate, the u.s. benchmark rose to $106.43 michelle cabrera is on the ground tonight. >> reporter: after many consultations with his national security team, president obama said today he is willing to take limited military action in iraq, but
CNBC
Jun 20, 2014 4:00am EDT
1.2% and the nasdaq higher by more than 1%. much of this obviously down to janet yellen. let's have a look at the european markets, as well. we're seeing a bit of a mixed picture. the ftse mib is slightly underperforming in italy. but for the rest of the european markets, we're seeing modest gains. the ftse 1100 up by 0.3%. it's all about speculation on mp m&a and the tech sector. we're still close to these 6 1/2 year highs. sri. >> a lot of action wasn't there in the gold markets overnight. we saw a move of 3.3%. reflecting the safety bid amid the concerns and the deepening conflict in iraq. also, the weaker dollar after that dovish stance that we got from the fomc. remember, also, that we did call this move correctly, our own cnbc proprietary poll said that gold prices would end the week on a stronger footing and that is what we are seeing in the market as we round off the week. elsewhere, the oil market continues to climb. we seem to have found something of an intermediate at around $115 a barrel. there is potential to move higher. but we're also hearing that if we see material dis
Bloomberg
Jun 20, 2014 3:00am EDT
are somewhat more positive after this weekend janet yellen. janet yellen told us the fix was still in. she is going to look through stronger growth. she is going to look through higher inflation and stay on a higher path. >> mark stays with us. here is what is coming up. tsb names of price. they sell 35% of shares after seeing significant demand. your move, ge. they raise the stakes again. and my interview with one of the brains. jimmy wales tells us the single most exciting theme in tech. stay with us. >> this is "on the move." welcome back to the program. here are some stocks on the move this morning. let's show you what is happening with shire pharmaceuticals. of by 14%. has been manufacturer the center of bid speculation for some time now. in the last 24 hours we heard from one business that said they had made three offers. the latest has been rejected by anothernt. will we see offer come to the table? share prices up on that news. president barack obama is deploying military advisors and reconnaissance planes to help iraq be back a sunni insurgency ear thereatens to t country
PBS
Jun 20, 2014 12:00am PDT
waves through the oil and gas market. >> inflation nation, janet yellen called the latest data noisy but how concerned should consumers and investors be about rising prices? >> and big miss, oracles earnings and one take away investors need to watch. that and more for "nightly business report" for thursday, june 19th. >>> good evening, everyone. i'm susie gharib. >> i'm bill griffeth in for tyler mathisen. al
PBS
Jun 19, 2014 6:00pm PDT
option sending shock waves through the oil and gas market. >> inflation nation, janet yellen called the latest data noisy but how concerned should consumers and investors be about rising prices? >> and big miss, oracles earnings and one take away investors need to watch. that and more for "nightly business report" for thursday, june 19th. >>> good evening, everyone. i'm susie gharib. >> i'm bill griffeth in for tyler mathisen. al g
FOX Business
Jun 19, 2014 6:00pm EDT
us? >> don't pretend like you want to talk about janet yellen, first of all. avon facebook, i love your new show. i have a question. when investing should i be looking exclusively for wrote why did most companies? thanks. charles: that is a great question. when someone says only i bristle with that because i think you should have balance. essentially what people are talking about are big, giant companies wary is hard for competition to go at them. a railroad, you cannot start a railroad overnight. it a drug company that just got a patent on a multibillion-dollar drug, no one console that drug overnight. these are relatively safe companies. it depends. if you're trying to protect them multimillion-dollar fortune you want some exposure to the market, some outside, some dividend yield. other than that, mix it up. what do you tell people? >> right now we like defensive stock and companies that have a nice dividend yield. charles: but your in that kind of mode. >> and, look, if they are paying me to rage, i am all for that. i will be paid to wait on one side and take risks of of the tab
CNBC
Jun 19, 2014 6:00pm EDT
again people are paying way too much attention to janet yellen and way too little attention to what's actually happening at the companies themselves. that does not help us understand what's really going on with this market made up of stocks on a day when the dow gained 15. s&p 50 up 18% and nasdaq dipped 8%. in a world of people that like to apine endlessly about the interaction between the government and the stock market. i know i'm a throw back todays when we looked at what individual companies were doing and how those actions impacted their stock. but just because i'm old fashioned doesn't make me wrong. those that blabber about how stocks are artificially elevated because of the fed and thus destined for a fall literally kept you out of the market. my methods have kept you in. remember my essential premise. before equities became commod y commodities we used to recognize the power of individual companies to effect their own stocks. i still believe kpaning the company and how it actually executes and matching that execution against what wall street's expecting remains the best way
CSPAN
Jun 19, 2014 5:00pm EDT
chambersburg. this weekend on american history tv on c-span3. >>> federal reserve chair janet yellen on wednesday expressed confidence that the economic recovery was largely on track and that the fed would be able to begin raising interest rates next year. she spoke at a news conference following two days of meetings of the federal open market committee. it's just under an hour. >> good afternoon. the federal open market committee concluded its june meeting earlier today. as was indicated in our policy statement, the committee decided to make another modest reduction in the pace of its purchases of longer term securities. the committee maintained its forward guidance regarding the federal funds rate target and reaffirmed its view at a stance of monetary policy remains appropriate. today's policy actions reflect the committee's assessment that the economy is continuing to make progress toward our objectives of maximum employment and price stability. in the labor market, conditions have improved further. the unemployment rate at 6.3% is .4 lower than at the time of our march meeting, and
CNBC
Jun 19, 2014 5:00pm EDT
fed chair janet yellen's comments yesterday that rates would stay low for the foreseeable future. >>> violence in iraq driving up oil prices today. the spread between brent and wti crude getting wider here. let's start with gold. >> gold to me is -- bear market rallies in gold can be very deceiving, very painful. this is one of them. gold will be at $1,200 before the end of the year. i think it is a natural place -- the fed has normalized interest rates somewhere around $9.50. if you believe the fed is missing inflation here, you'll rally gold and that's misplaced. janet yellen i think is looking for wage inflation. we don't see that yet and calling the data noisy. i think gold is absolutely a head fake. to think we'll be taking gold back up to the old levels. otherwise you must believe central banks are ridiculously out of hand. >> ubs cut their price target for gold earlier in the week to $1,200 from $1,300. >> i think the gold market got scared by yellen's comments. the word was "noisy." and there was nothing noisy about those numbers. you read into it. maybe they've lost cont
FOX Business
Jun 19, 2014 4:00pm EDT
armageddon and i don't see it, or asen inflation edge, and i don't see it per janet yellen yesterday. so if there isn't any inflation and i don't see armageddon, let this happen. but when it starts to stall out, shoot it out of the sky because i think the real worry is deflation, and in a deflationary environment, this gold is way too expensive. liz: okay. while we're talking, the numbers for oracle a have started to move. we don't want to get them incorrect, but we can put up the stock reaction, and it is negative at the moment. oracle's stock is moving down in the after market session. one of the flashes that i'm seeing here is that quarterly new software license revenues were unchanged. when you have no new software licenses, that is certainly interesting. let's get right to the numbers. go. we've got 93 cents, that is a miss. that could also be it. and then the -- okay, 11.3, it's a miss on both the top and bottom line. david: by the way, charles brady here at fox business has told us, he told us about a half hour ago you could expect a 5% move in the stock after earnings. we're getting
FOX Business
Jun 19, 2014 3:00pm EDT
do we see other video on the screen of janet yellen and vladimir putin? we are also watching to see how president vladimir putin response as fighting erupts again in ukraine with government troops battling pro- russian rebels in the east. federal reserve chair janet yellen yesterday delivered a relatively subtle view of the upcoming yesterday to read lower in the feds a. we told you that on monday. the major us markets have been fairly resilient, at least until this afternoon to read there was a reversal, the dow, s&p and nasdaq were all higher, but they have reversed, but the early. there has been a flight to safety. gold is popping. why do we talk about this now? look on the screen, jumping $48. what's going on? the open interest started to move up yesterday, more people showing interest in bu it started coming in last night. we saw a close of about 1350. that changes a negative picture from the last couple months to a positive picture. but, let's dig deeper into what is going on with your money in the market serious let's go to the floor show. john, we had a poor box just how. vl
CNBC
Jun 19, 2014 3:00pm EDT
market is responding to janet yellen's comment yesterday that the inflation data has been nothing but noise. >> we'll get into that in a moment. >>> private equity legend jay jordan says this market is overpriced and too risky right now. where is he putting his money? we'll ask him in an exclusive interview ahead. >> looking forward to that very much. >>> also, netflix trading lower today despite that major announcement that chelsea handler is moving her late night show to the streaming video content service in what is being billed as an historic move. but the market is not buying it. not impressed. >>> you'll hear from an insider who says this movie is not a slam-dunk success for either netflix or chelsea handler. that's coming up. >>> here's where we stand in the markets right now. stocks under a little bit of pressure a day after the s&p 500 set a new high after janet yellen's comments and the federal reserve's decision. that was yesterday, of course. the dow shedding now 12 points. the s&p about a point. the nasdaq off ten. bill, as you mentioned, a lot of focus on moves in go
FOX Business
Jun 19, 2014 2:00pm EDT
differences in crew uniforms. food prices are at all-time highs that janet yellen, ron paul is here with me next. rob ford is about to light up the stage. musical about a crack smoking mayor in the works. seriously. piles of money coming up. are the largest targets in the world, for every hacker, crook and nuisance in the world. but systems policed by hp's cyber security team are constantly monitored for threats. outside and in. that's why hp reports and helps neutralize more intrusions than anyone... in the world. if hp security solutions can help keep the world's largest organizations safe, they can keep yours safe, too. make it matter. my dad has aor afib.brillation, he has the most common kind... ...it's not caused by a heart valve problem. dad, it says your afib puts you at 5 times greater risk of a stroke. that's why i take my warfarin every day. but it looks like maybe we should ask your doctor about pradaxa. in a clinical trial, pradaxa® (dabigatran etexilate mesylate)... ...was proven superior to warfarin at reducing the risk of stroke. and unlike warfarin, with no regular bloo
Bloomberg
Jun 19, 2014 2:00pm EDT
times janet yellen has said there is uncertainty like ofward, but we are certain one thing for sure is that interest rates are not going to rise very much. >> it can really be boiled down to the fact that 10 year treasury yields have come down since the beginning of the year, down about 13%, 12%, in that range. the group is up 15, 16%. perfect correlation there. >> explain to my mother why utilities do well when interest rates go down. >> lots of investors look at utilities as an income-oriented sector. people buy them for the dividends, the yields. if there are alternatives such as interest, fixed income rate investments that are not giving you the same kinds of rates or yields, there is a natural tendency to look for higher yields and that brings you to utilities. another reason for owning them is safety. if there is concern about the economy and the overall global environment, you tend to benefit in those kinds -- >> is not so much, i'm guessing, the defense sector as it is just central banks are giving investors no other choice. >> absolutely. in this almost zero interest rate e
CNBC
Jun 19, 2014 12:00pm EDT
whether fed chair janet yellen just sparked the next leg of the rally for stocks. let's go right to the panel now. steve weiss, is that what happened yesterday? >> i think derchtly a -- derchtly a sidercht definitely a sigh of relief. if you look at it, back 2012, inflation running hotter for much longer a period of time. in just the last two months, where we've seen the uptick in it. right now a little cooperative with mario draghi and his plans have not come into full fruition. yes, i think the market's going to be fine here. however, what was interesting to me is that they -- they brought faster, in other words, they said they were going to raise rates sooner than what the expectation had been, yet the market pushed that off. >> there was an expectation maybe after the cpi was surprising that the tone would be a little more hawkish. it wasn't. and what happens here is what we've seen before. people have expected her at times to be a little more hawkish. >> right. >> she has delivered more times than not for investors on the other side. >> yes. and that's true. except she's known
CNBC
Jun 19, 2014 11:00am EDT
the notion that janet yellen and the committee are overlooking potential pricing pressures, because one thing about pricing pressures, whether she's ignoring them, whether they're ignoring them, doesn't matter. it will be known. okay? these things will come to the forefront. it's more about the management style. you know, when we look at companies or think about companies that have had issues, like jcpenney in the past, it isn't necessarily only, only, valuations of fundamentals. there's an intangible called management style. and whether you're looking at the white house, the congress or in my opinion now the federal reserve, and not only under janet yellen's shorten nue tenu it's overwhelming. i can hear the questions now. what about stocks? how could they be going up? remember that big number? 241.2 billion? all right? thrown on the screen, from the "wall street journal." thank you. buyback binge surges to new highs. stock buybacks and dividends. new highs, dividends, oh my, reached 242 billion in the first year exceeding the previous record of 232.2 billion set in the fourth quar
FOX Business
Jun 19, 2014 11:00am EDT
touch on how to get our american economy going again. stuart: janet yellen had yellen had something to say about the economy. joining us now is drake and that the. >> stuart, she is not justified to discuss the matter. do not take my word for it. look at her record. right now, housing prices had already topped. she was giving speeches about how she expected house prices to continue to work up. even if housing joining us now is tres knippa. did show noticeable price decreases, it would not adversely affect the economy. it is one of the most important financial events of the last 40 years. she was 100% wrong. stuart: the federal reserve has just lowered its economic forecast. >> the imf, as did the world bank. we will continue to level along. where is all the growth. i just do not think that it is coming. what sort of ammunition does the fed have left. you and i had a dinner bet where i said when janet yellen leaves office, q we will be higher than when it started. she has pulled back a little bit. when all you have is a hammer, everything looks like a nail. stuart: the dow is down 23
CSPAN
Jun 19, 2014 10:00am EDT
chair janet yellen. neil host: our nes irwin. --is the author of the book the author of a book. thank you for joining us. reserve wrapped up its meeting yesterday. what did they decide to do? guest: they continue keeping low interest rate policies in place to keep pumping money into the u.s. economy and to slow down the rate at which they pumped money into the economy. they reduced from $45 billion a month to $35 billion a month. down so is to wind maybe by the end of the year they will no longer be in the business of printing money to buy bonds. host: can you tell us about the stimulus program? inst: it was launched back 2012. the economy has been subpar. inflation is too low. we are going to do something to try and combat that. they started a program of creating new money to buy treasury bonds and other securities to pump money into the financial system. what they're doing now is saying we think the economy is roughly on track so we are going to try to withdraw that and get out of that progress him -- that program. host: we have a clip of janet yellen discussing her outlook f
Bloomberg
Jun 19, 2014 10:00am EDT
on the back of janet yellen's comments. also yesterday, another pullback on the vix. aboutime to its lowest in seven years, a little more than seven years, in fact. andrew keen,w is president and founder of keen on the markets. aboutne is complaining the vix being so low. but you have found that silver lining in the vix being so low. x is contained right now. about every month a goes a point higher. you might say it goes too low, but you could use that as an opportunity to buy some calls against the portfolio. a market has been on fire. it seems like every day it wants to go higher. we are shaking off news from iraq. use that as an opportunity to maybe buy some puts against your position. no one says you have to initiate long positions, but when it is hurricane season in florida, people buy insurance after the hurricane. -- don't you buy it the for? before? having insurance inside makes sense -- insight makes sense. >> your argument is that hedging against or hedging for that sort of event, a pullback, is relatively cheap right now to do. >> absolutely. policiesinsurance against any
CNBC
Jun 19, 2014 9:00am EDT
maybe paying too much for it. this is not janet yellen's stock, yeah, we're not paying too much or exub rent. i like it very much. >> duncan thinks coffee prices peaked. >> i had him on three weeks ago, worried about the trajectory. coffee represents less than 5% of the cost of goods sold. it has so dominated discussion. howard had a good laugh with people and does the same thing. higher price of coffee, not my first rodeo. people didn't like that. there was pushback on tuition. i was at the conference. you saw people crying. thank you. i mean, you know, howard has a lot of things going that are not earnings per share oriented, but sends stock up anyway. >> full tuition reimbursement. that gets your attention. >> arizona state is a great school. >> i know. why do you want to talk about it? >> credit squeeze, it comes out today with a 225 price target talking about the pipeline not recognized. there's been issues, patent issue, turning to the sales. people talk about a possible cure for crones disease. that would be a big thing. those of us who are tremendous sufferers of arthritis
Bloomberg
Jun 19, 2014 8:00am EDT
considerable time. janet yellen says she was optimistic about the economic recovery. the u.s. is distancing itself from the iraqi prime minister nouri al-maliki. and general electric ceo jeff immelt is making a last push to acquire alstom's energy assets. he is lobbying the french the ge's $17r the billion offer. there was a joint offer by siemens and mitsubishi. for more on this battle between the industrial titans, matthew campbell is joining me from london. this is a big day for jeff anelka. --a big day for jeff immelt. how much convincing does he have to do? >> this is absolutely a big day and he has to make his case in paris to the government and the unions. ge does have the inside track relative to siemens. they have emigrated deal. -- an agreed deal. alstom, the target of the transaction, is on board. what siemens was trying to do does not have alstom's agreement, and the noises from the alstom cap is that they see the siemens proposal, which is pretty complex, as being a bit too much try to do and not ideal from their perspective. jeff immelt has a tough day ahead of him,
CSPAN
Jun 19, 2014 8:00am EDT
in our chat room at booktv.org. booktv, television for serious readers. >> federal reserve janet yellen expressed confidence that the economic recovery was largely on track which would allow the fed to begin raising interest rates next year. she spoke at a news conference following two days of meetings of its federal open market committee. her remarks are about an hour. [inaudible conversations] >> good afternoon. there are the federal open market committee concluded its june meeting earlier today. as was indicated in our policy statement, the committee decided to make another modest reduction in the pace of its purchases of longer term security. the committee maintained its forward guidance regarding the the federal funds rate target and reaffirmed its view that a highly accommodative stance of monetary policy remains appropriate. today's policy actions reflect the committee's assessment that the economy is continuing to make progress toward our objectives of maximum employment and price stability. in the labor market, conditions have improved further. the unemployment rate at 6
CBS
Jun 19, 2014 4:00am PDT
the "cbs moneywatch" now janet yellen speaks and wall street listens, and the 411 on amazon's big new product. jill wagner is at the new york stock exchange with that and more. good morning, jill. >> good morning, anne marie. fed chair janet yellen downplays inflation affairs. yelin said yesterday the u.s. economy still isn't healthy enough to grow at a consistently strong pace without help from the federal reserve. she made it clear the federal bank sees no need to raise the interest rate any time soon. the dow rose 98 points wednesday. the nasdaq gained 25 and the standard & poor's gained 15 points to set another record high. >>> the tech buzz was right. amazon released its news yesterday. ceo jeff bezos introduced the new fire phone yesterday. it produced 3-d-like images that uses cameras on each corner that can tell where your head and eyes are, and, of course, it also allows users to easily purr chas items fr purchase items from amazon, but for now the phone will only be available through at&t. >> when we brought the concept of fire, our new smartphone to them about three yea
BBC America
Jun 19, 2014 7:00am EDT
economy. it also cut u.s. growth forecasts for the year. but in her comments t big boss, janet yellen reassured investors the u.s. recovery is on track and seemed to be in no rush to raise interest rates. one market expert explained why global markets are on such a role. >> we've seen a cut from 2.9% which the feds set in march to 2.2% for the year. last we're they were talking 3.4% for the united states. we have seen an interpretation that rates aren't going up as quick as people think. the ten year bond yields was down to 2.58 this morning. the market adjusts that down and says no need to worry for the moment. rates are not going to go up. show is back on the road after the terrible winter. there's nowhere else to go. >> follow me on twitter. get me @bbc aaron. that is it. would you use an amazon phone? >> i'm committed to my particular smart phone. >> that's most of us that don't want to change. >>> spain going no further than the group stages. more teams looks to avoid the same fate today. we want to take you outside the stadium. you don't believe me do you? this line up could be out of som
CSPAN
Jun 19, 2014 7:00am EDT
have a clip of janet yellen discussing her outlook for the economy. we will listen to it and get your reaction. [video clip] >> economic activity is rebounding. it will continue to expand at a moderate pace thereafter. overall, the committee continues to see sufficient underlying strength in the economy to support ongoing improvement in the labor market. is running below the 2% objective. the committee remains mindful that inflation running below its objective could pose a risk to economic performance. host: what was she trying to say? keeps growingnomy and maybe we would like it to grow a little faster. the labor market is improving and the job market is getting better. there is progress. down thelling to slow kind of interventions that we do. way is the central bankers of saying everything is not fixed, but we are on the right path. meeting, theys release a forecast of what they expect the economy to do. in that forecast, they revised down their estimate of how much gdp is going to grow. we had a rough winter. a lot of bad weather that disrupted output in the first quarter. it looks
Bloomberg
Jun 19, 2014 6:00am EDT
. >> our guest host this morning, of globald president strategies on janet yellen and the fed and his call on a more tepid american economic experiment. also, bryan white with the chertoff group, senior official with the department of homeland security. let's begin with what we observed yesterday. what was the key moment within the yellen is conference? 2:47 p.m. aid, the she essentially said the punch bowl is there and she sadly not going to take it out. i don't think they're going to raise interest rates at the end of 2015. the fed has been wrong every time on its growth forecast. i think the rate increases will be postponed. up on his number last evening. why are we allowing supposedly "emergency measures introduced in 2008 to go to their seventh year? i thought this was a substantial note on what arafat has gone wrong. what is the remedy right now that you see janet yellen has to do? you have to stop quantitative easing. you have to have a symbolic increase in interest rates. federal funds goes up one quarter, one half a percent. cause bondt -- yields to rise. do it now or be prep
CNBC
Jun 19, 2014 6:00am EDT
have been liking what janet yellen had to say. steve liesman joins us with more on yesterday's fed decision. >> it was interesting market reaction, becky. the market reacted almost immediately at 2:00 p.m. with the statement. and perhaps to the statement that made clear there were no serious concerns with inflation. it was kind of like i sounding the all-clear signal on the issue. then it takes off after journalist questions asking fed chair janet yellen to directly respond to the recent uptick in inflation in the consumer price index. >> the recent evidence we have seen abstracting from the noise suggests that that we are moving back gradually over time toward our 2% objective. and i see things roughly in line with where we expected inflation to be. i think if you look at the sep projections that were submitted this time, you see very little change in inflation projections of the committee. >> so what happens is the fed funds futures actually, there's a december 15, you can see that it comes down. the yield comes down, and this is part of the stability. larry was talking about lac
MSNBC
Jun 19, 2014 2:30am PDT
exactly jubilant mood, but they do still feel that janet yellen was dovish enough to mean you can carry on buying stock here without worrying about interest rates going up any time soon. just want to round this off with american apparel. what a remarkable story this is. the ceo and chairman given his marching orders here. there are a series of ongoing suits, some related to claims of sexual harassment. this has been a long-running story, in a sense, but finally, it does seem as though it's coming to a head. the company, as we know, has a cash crisis as well. and if you look back to these 2013 numbers, a reported loss of $106.3 million. you wonder whether the company will make it in the end from here. but back to you, mika. >> all right, geoff cutmore, thank you so much. >>> still ahead on "way too early," defending champion spain now out of the world cup after falling to chile. we're going to have more on the shocking early exit. plus, why some chilean fans are being expelled from the host country. >>> also coming up, breaking his silence. what the teenaged stowaway who survived a
Al Jazeera America
Jun 19, 2014 5:00am EDT
me. >> coming up next, making sense of the federal reserve. janet yellen and crew cut their economic forecast. and also another chunk out of the stimulus. i'll tell what you that means. should juvenile killers serve life without parole? >> the didn't even ask for the money they just shot him. >> horrendous crimes committed by kids. >> i think that at sixteen it's a little too early to write him off for life. >> should they be locked away for good? >> he had a tough upbringing but he still had to have known right from wrong. >> the federal reserve did what everybody predicted it would do. intelligent yellen reduced the bond buying program by $10 billion . fed had been pumping in $85 million a month, a move designed to jump start the economy to keep interest rates low. but the last few times it met the fed has whittled this down to where it is now at just $35 billion a month. now in case you are wondering the fed exists to do two main things. it's so-called dual mandate. it uses monetary policy to promote job growth and at the same time to manage inflation. it's main tool for doing tha
PBS
Jun 19, 2014 1:00am PDT
, stocks sore into record territory after federal reserve chair janet yellen says she's not inclined to tighten policy. >> delivering results, fedex says business is good and getting better, sending shares to an all time high but there is one wild card that could change everything. >> under oath, general motors ceo on capitol hill filling pointed questions about the biggest safety crisis in the company's history. all that and more tonight on "nightly business report" for wednesday, june 18th. >>> good evening, everyone. investors saying a big thank you to janet yellen, the federal reserve chair said policy makers will most likely keep interest rates right where they are now near zero through the end of this year. wrapping up a two-day policy meeting and speaking at a news conference in washington, yellen insured investors the u.s. economy is doing well enough for the fed to make further cuts but not strong enough to seek consistent growth without the central bank's help. investors loved hearing that, and stocks took off. the s&p 500 index closed at a new record high of $19.57, the dow,
Bloomberg
Jun 19, 2014 4:00am EDT
max said frenzy. stocks surge and the dollar falls. janet yellen says rates will remain low. >> l'oreal goes on a shopping spree. the ceo tells us that he is just getting started with billions of dollars in deals. >> caution from cable. france must play by the rules in the battle for alstom. good morning, everybody. ."u are watching "the pulse we are here in london. i am guy johnson. >> i am olivia sterns. also coming up on the program, amazon is taking on apple and samsung. >> securing a spot. we are going to speak to the ceo of electrolux about whether we intelligent connected washing machines, dishwashers, etc. we begin with a bloomberg exclusive. l'oreal is scooping up beauty brands around the world. the world's largest makeup company is buying and la-based at cosmetics company. the ceo tells us he sees more acquisitions after this deal. in an extremely rare interview, he sat down with caroline in paris. >> it is a fantastic brand. brand. professional it is the only brand like that. has been a great success in luxury for many years. equivalent in luxury, the brand urban
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